GBPUSD moves above the 100/200 hour MAs ...Middle East

The GBPUSD is following the dollar lower moves seen as yields in the US tumble. the market is discounting the comments from Fed Chair Powell and thinking more in terms of slower growth/higher unemployment. The regional banking concerns are also helping to send funds into treasuries, weakening the US dollar in the process.Technically, the price of the GBPUSD has moved back above its 100 and 200-hour MAs at 1.2691 and 1.27015. Those MAs disect the range of 1.2600 to 1.2800 that has prevailed since mid-December (see red box on the chart above). Admittedly, the price has been above and below those MAs. over the last 4 or so trading weeks. That is what happens when the price does not trend, bu

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